The Board of Australian telecommunications provider My Net Fone Limited (MNF) are very pleased to report another high performance result for the six months ended 31st December 2013. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 85% to $3.7 million, with net profit after tax (NPAT) increasing by 58% to $2.4M, compared with the same period a year earlier.
The company’s strong performance compared to the previous corresponding half included:
o First-half revenue of $28.5 million – up 55% from $18.4M.
o First-half EBIDTA of $3.7 million – up 85% from $2.0M.
o First-half NPAT of $2.4 million – up 58% from $1.5M.
o First-half dividend increase of 33% to 2.0 cents per share fully franked.
o A strong balance sheet with no bank debt and a positive cash balance of $3.7 million – after payment of the final instalment for Symbio Networks.
The comparative increases in revenue and profit include contributions from the successful integration of the GoTalk Wholesale, Connexus and the Callstream business, for the entire period.
In October 2013 My Net Fone acquired the business assets of Pennytel, and all associated acquisition and integration costs have been taken up in this result.
Business Outlook and Guidance:
Historically My Net Fone enjoys stronger performance in the 2nd half year when compared with the 1st half, largely due to seasonal customer spending patterns.
After careful consideration the directors are of the opinion that the business is currently on track to meet our previously stated forecast EBITDA of $8.6M and NPAT of $5.5M for the full year ending 30 June 2014. This was updated in November 2013 and includes expected gains from the all acquisitions, including Pennytel.
With a discerning and conservative approach, the Board of My Net Fone will continue to actively search for further acquisition opportunities; whilst we remain totally committed to driving growth and performance within the business.
About My Net Fone Limited
My Net Fone Limited, (ASX:MNF) is Australia’s leading provider of hosted voice and data communications services for residential, business and enterprise users. My Net Fone was first founded in 2004, was listed on the ASX in mid 2006, has 62.5 million shares on issue, has operated profitably since 2009 and has paid dividends to its shareholders every six months since September 2010.
The company has a reputation for quality, value and innovation, having won numerous awards including the CeBIT Outstanding Project Award 2013, Deloitte Technology Fast 50 (2008, 2009, 2010, 2012 and 2013), PC User Product of the Year (2005), Money Magazine Product of the Year (2007) and many others.
My Net Fone’s wholly owned subsidiary, Symbio, owns and operates Australia’s largest VoIP network, providing wholesale carrier services to the Australian industry, including number porting, cloud-based hosted PBX services, call termination, call origination and many other infrastructure enabled services. The Symbio network carries over 3 Billion minutes of voice per annum.